Grímsstaðir is a settlement in north-east Iceland whose main claim to fame is that its weather station holds the low-temperature record for Iceland: no doubt due to its sheltered location (at altitude of about 400 metres) between two areas of highland (800 metres or more).
It is situated just off Route 1 (the main ring road around the island), where it crosses the large river Jökulsá á Fjöllum, about 37 km or 23 miles east of Lake Mývatn. The river was bridged in 1947: before that, traffic between north and east Iceland had to use a ferry.
Currently the settlement has some accommodation for tourists. It also has an airstrip, in common with many isolated rural settlements in Iceland. It is a recognised stop on the bus route between Akureyri and Egilsstaðir (up to one bus per day in summer) although it is only during summer that the buses venture off the main road to the settlement itself.
A Chinese business tycoon is hoping to buy a large area of north-east Iceland to build a luxury hotel and eco-resort.
Huang Nubo is reported to have offered a billion krona (£5.4m: $8.8m) for the 300sq km (155 sq mile) Grimsstadir a Fjollum region.
Critics of the plan fear it could be used by China to gain a strategic foothold in Iceland.
But Icelandic officials have welcomed the purchase and the further 20bn krona Mr Huang says he intends to invest.
This offer was subsequently rejected by Iceland's Ministry of the Interior in November BTW.